Strabag to Spend $396M on Turbine Foundations

Strabag SE plans to invest more than $396M on a factory in Germany to make foundations for offshore wind turbine.

Strabag SE, the biggest builder in Central Europe, plans to invest more than 300 million euros ($396 million) on a factory in Germany to make foundations for offshore wind turbines and the vessels needed to install them.

Strabag, based in Vienna, is seeking to make 80 foundations a year at the site in Cuxhaven, according to Gerald Zangl, managing director at the Strabag Offshore Wind GmbH unit.

The plant, servicing the German market, will cost more than 100 million euros and produce enough foundations for one wind farm a year, with the rest of the investment going toward ships, Zangl said yesterday in a phone interview from Stuttgart.